Elevating Racial Equity to Expand Economic Opportunity

CEI is gaining a deeper understanding of how structural bias, racism, power and privilege impact all aspects of our work. As an organization with roots in the civil rights movement, we are committed to creating a more just, inclusive and sustainable economy. Acknowledging and actively fighting racism and injustice helps create the level ground and collective effort we need to build a more equitable future that benefits everyone.

Investment in Workforce Housing and Brownfield Cleanup Supports Indianapolis’ Near Eastside Community

The Woodforest CEI-Boulos Opportunity Fund, a high-impact commercial real estate Opportunity Zone fund established by Woodforest National Bank® and CEI-Boulos Capital Management, announced its $3 million equity investment in The Wesmont in Indianapolis’ Near Eastside neighborhood. The new property, built on a four-acre remediated industrial brownfield site, consists of 188 new workforce apartments, 170 of which are affordable to people with low incomes. The Woodforest CEI-Boulos Opportunity Fund is the majority equity investor in the $31.1 million project spearheaded by TWG Development, LLC.

CEI Supports Maine Companies with Knowledge Share of New U.S. Aquaculture and Seafood Market Data

April 20, 2021 (Brunswick, ME) –Coastal Enterprises, Inc. (CEI) announced that it has acquired and is sharing competitive national seafood industry sales information with Maine’s aquaculture and seafood businesses. The syndicated broadline sales data for key Maine species identifies regional and metropolitan markets in the U.S., taking the guesswork out of where Maine businesses have the best prospects for expanding sales. CEI purchased the data as part of its Maine Seafood Marketing Initiative, a pilot effort to establish a state seafood marketing association promoting all of Maine’s seafood products. The data will be made available upon request to Maine businesses free of charge.  

Madison Park Development Corporation, Bright Community Capital, and Resonant Energy Partner with Roxbury, MA, Residents to Expand Low-Cost Renewable Energy

APRIL 14, 2021 – ROXBURY, MA – As of February 1st, 2021, a unique portfolio of 17 rooftop solar installations totaling 580 kW is now providing a steady stream of low-cost, renewable energy to 430 households in Roxbury, Massachusetts, providing nearly a million dollars in estimated utility cost savings to buildings serving older adults and families with low incomes. Collectively, the panels will produce 16,185,625 kWh over the next 25 years, reducing greenhouse gas emissions by 11,470 metric tons.

$1.49 Million Maine New Markets Capital Investment from CEI Capital Management Supports Rangeley Community in Reviving Saddleback Mountain Ski Resort, Creating Jobs and Expanding Economic Activity

April 13, 2020 (Brunswick, ME)—CEI Capital Management LLC announced its $1.49 million Maine New Markets Capital Investment Tax Credit financing to support the ongoing revitalization of Saddleback Mountain Ski Resort (Saddleback) a four-season resort and leading northeastern travel destination in Rangeley, Maine. The tax credit investment will be managed by Arctaris Impact Investors (Arctaris), a Boston-based firm.

Woodforest CEI-Boulos Opportunity Fund Recognized in BAI Global Innovation Awards for Societal & Community Impact

March 19, 2021 — Coastal Enterprises, Inc. (CEI) is proud to announce that the Woodforest CEI-Boulos Opportunity Fund recently won the 2020 BAI Global Innovation Award in the Societal and Community Impact Innovation category. CEI is a joint venture partner in CEI-Boulos Capital Management, the fund’s manager. The BAI Global Innovation Awards recognize financial services organizations that have “gone beyond the conventional to bring creative ideas to life, especially during a time of unprecedented change.” The Woodforest CEI-Boulos Opportunity Fund invests in high impact commercial real estate projects across Woodforest National Bank’s 17 state footprint. The fund’s investments will help create 1,800+ new jobs. The fund was selected from hundreds of nominations for the award program – the finalists for which represent some of the most “distinctive, impactful solutions in the global financial services industry.”

Woodforest National Bank Wins Global Innovation Award for Woodforest CEI-Boulos Opportunity Fund

THE WOODLANDS, Texas, March 4, 2021 — Woodforest National Bank® (Woodforest) recently won the 2020 BAI Global Innovation Award in the Societal & Community Impact Innovation category for its Woodforest CEI-Boulos Opportunity Fund, which invests in high-impact commercial real estate projects in Opportunity Zones with the goal of benefitting economically distressed communities across the bank’s 17-state footprint.

CEI Ventures, Inc. Announces Initial Closing of Coastal Ventures V LP, the Good Jobs Fund, at $14.85 Million

March 10, 2021 (Brunswick, ME) – CEI Ventures, Inc. finalized the initial closing of its fifth fund on March 1, 2021 with a capital raise of $14.85 million from 32 accredited investors. A subsidiary of Coastal Enterprises, Inc. (CEI), a non-profit community development financial institution (CDFI) and innovative leader in rural business development, CEI Ventures is one of the only venture capital firms in the U.S. with a mission focus and proven strategy to help create good jobs. Since 1996, including last week’s closing, CEI Ventures has raised over $60 million and invested in 64 companies across five funds, helping to create 2,700 new jobs in geographic regions and with demographic populations often overlooked by traditional venture capital investors.  

Our offices remain closed to the public, but we are hard at work!
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